PLANS to build a new roundabout between Barrow and Ulverston are one step closer to fruition after a £165m bid has been submitted to central government.

Cumbria Local Enterprise Partnership has submitted proposals for Growth Deal 3, the latest government funding round for projects aligned with regional strategic economic plans.

As well as bringing jobs and levering in millions of pounds worth of private-sector investment, they would develop more than 600,000sq metres of business space.

Key projects being prioritised include major investments in nuclear technology, agriculture, tourism, skills, site and transport infrastructure, improving connectivity and flood resilience.

Graham Haywood, director of Cumbria LEP, said: “We have worked closely with economic development partners across the county to finalise this ambitious bid and submit it on time. Our aim is to create thousands of new jobs and boost Cumbria's economy by £1.3bn by 2024.

“We have clearly set out what we need to help accelerate the county’s economic growth as we host some of the UK economy’s most significant assets which will provide vital resources to help meet the nation’s future needs. The county has a unique and compelling offer to businesses and investors in the global economy too.

“The funding we have requested is a step up from earlier Growth Deal rounds, but we are making our case for this level of commitment and the resulting economic benefits.”

The LEP is initially seeking £165m of investment to support a pipeline of transformational proposals to boost the local economy.

These include:

· Cross-a-Moor – Upgraded A590 junction near Ulverston, in anticipation of new jobs and homes coming to Furness;

· Agri-sector Programme – Investment in activities to increase productivity and create a more sustainable long term future for the rural economy;

· Tourism Growth Programme – Investment in attractions to boost Cumbria’s appeal as a destination and increase visitor numbers, with a particular focus on higher spending international visitors.

· Optimising Connectivity – Innovative and integrated means of moving people, sustainable transport improvements and improving the visitor experience;

· Nuclear Technology Innovation Gateway – New academic research centre, laboratories and offices for National Nuclear Laboratory;

· Whitehaven Town Centre North – Upgrades to coastal railway and A595, 46 new homes and development of business workspace;

· Flood Resilience Programme – To ensure delivery of improvements focused on increasing business flood resilience and restoring investment confidence;

· Carlisle Station Gateway and the Citadels – A transformative, mixed use regeneration scheme including hotel, retail, residential and business workspace to attract private sector investment;

· Skills Capital Programme – Funding projects to enable delivery of Cumbria Skills Investment Plan and support area based reviews for improvements to the provision of post 16 education;

· Growing our Potential – To boost business productivity and innovation through provision of grants and loans, aligned with specialist business support through the Cumbria Growth Hub, and for the further roll out of broadband and digital technology across Cumbria;

· Lillyhall North – Measures to enable development of employment site and supply chain investment;

· North Gateway Workington Development – Rail improvements to support major energy sector and open up new employment sites with development of new workspace.

READ MORE : Hundreds more homes on the cards for Ulverston

Mr Haywood added: “Whilst the funding figures we are submitting are ambitious and represent a significant commitment, we have also clearly set out the wide range of economic benefits they will bring.

"We must do all we can to maximise the potential for economic growth in the county.”

The current Growth Deal means £47.7m being invested in Cumbria up to 2021 and the government is expected to announce its allocations for Growth Deal 3 bids later in 2016.

Mr Haywood said: “All of these projects will contribute to the delivery of the ambitions set out in our Strategic Economic Plan.

“A successful Growth Deal 3 bid would give us even stronger foundations to contribute to Cumbria's economic success and build on our existing strengths in manufacturing, nuclear, tourism, agriculture and logistics.”